Company Registration in Oman
Are you for Company Registration in Oman? Boost your business with Gryffin Capitalist in a hassle-free way! We are here to assist our clients in legally starting a business in Oman.
Avail of Our Professional Business Service for:
- Company Registration Procedure
- Corporate Bank Account Opening
- Acquiring Necessary Licenses
- Registering for Taxation
Company Registration Services in Oman
Oman has emerged as a leading country, passing business friendly laws and creating a welcoming environment for foreigners to encourage business setup in Oman. There are Business Opportunities in Oman ranging from estate to taxation and accounting.
Over the years, Oman has become the choice for international investors. As the biggest nation in the Gulf Cooperation Council (GCC) after Saudi Arabia, Oman offers an ideal location for company registration due to its abundant natural resources, historical significance as a trade hub, and accessibility.
Are you seeking guidance on a Company Registration in Oman? Keep reading to learn more about operating a business in the country before you establish your presence here.
Types of Oman Company Formation
You can choose from the following jurisdictions for your Oman Company Registration to start your business in the country:
- Mainland
- Free Zone.
The company formation costs in Oman may vary depending on your customized requirements. Kindly get in touch with us to confirm this.
Business Structures of Oman Company
The following business structures can be used for a Company Setup in Oman:
Limited Liability Company (L.L.C.)
Two to fifty people work for this type of Company. The entity's liability is constrained to a specific sum. If the regulatory body's consent is necessary for this Company in any way, it must be obtained.
Joint Enterprise
A joint venture business in Oman is not required to have minimum capital. If it is for a specific duration or project, an applicant seeking business registration in Oman may use the above mentioned structure.
Joint Stock Business
These businesses are established with the bare minimum funding. Shares of Joint Stock Companies may be made available to the general public.
Holding Company
A Holding Company would exercise some substantial control over its sister companies or subsidiaries. Over the subsidiary companies, there would be more than 51% control.
Branch Office
A branch office is only an overseas parent company's extension. Branch offices are capable of producing money.
Representative Office
A representative office is merely an addition to the overseas parent firm, much like a branch office. The representative office is not allowed to engage in any profitable endeavors.
The representative office is limited to tasks that advance the marketing of foreign parent firm.
Necessities for Business Setup in Oman
A person seeking a Business Setup in Oman must complete the steps below:
1) Appoint the Directors and Choose the Shareholders
For a firm, a minimum number of shareholders must be chosen, with at least one director appointed.
2) Reservation of Name
The MOCI must hold the name in reserve. The name must accurately describe the kind of activities it engages in.
The name must adhere to the MOCI's guidelines. The name must not mislead the public and shareholders.
3) Decide the Business Activity
First and foremost, the applicant must decide the business activity of the company. The applicant would need permission from the Ministry of Commerce and Investment(MOCI) to conduct banking and insurance activities.
4) Obtain a Business License
A business license from the MOCI is required before the company can start operations. The MOCI offers different types of licenses for conducting business in Oman.
However, the specific license must be obtained based on the applicant's requirements.
5) Acquire Your Incorporation Certificate
After completing the abovementioned stages, the applicant will get a certificate of incorporation.
Compliance Requirements for Setting Up a Business in Oman
The following requirements are mandatory for Setting Up a Business in Oman:
Company Taxes
All businesses must register with the Ministry of Finance to submit corporate taxes.
Tax on Small Businesses
If a company's approved share capital does not exceed OMR 50,000, it is only necessary for SMEs and other companies to pay a 3% corporation tax.
LLC Conformity
Any modifications to the LLC must be reported to the Ministry of Commerce and Investment.
Annual Meeting of the Whole
Every year, an annual general meeting must be convened.
Consult our experts today for more information regarding Company Registration in Oman.
Who Can Proceed with a Company Registration in Oman?
Oman can be an attractive choice for individuals or companies looking to establish their businesses for various reasons. Here are some groups that may consider choosing Oman for company formation.
Local Entrepreneurs
Omani nationals benefit from a supportive business environment, local market access, and familiarity with regulations and customs.
International Entrepreneurs
Expanding into the Middle East, Oman offers a strategic location, stable politics, favorable investment policies, and growing market opportunities.
Investors
Oman's liberal investment policies and potential for high returns attract investors seeking portfolio diversification and new markets.
Industry-Specific Businesses
Oman's diversification efforts open opportunities in oil and gas, tourism, logistics, manufacturing, renewable energy, and mining.
Startups & Small Businesses
Oman fosters innovation and entrepreneurship, with incubators, funding, and skilled talent availability supporting emerging companies.
Procedure to Setup a Company in Oman
Setting up a company in Oman involves several steps and procedures, which can seem overwhelming. However, the process can be streamlined and successfully completed with careful planning and adherence to the compliance requirements. Here is a comprehensive overview of the process involved in setting up a company in Oman:
Required Documents for Company Registration in Oman
Why Choose Gryffin Capitalist to Incorporate a company in Oman?
Seeking professional guidance from legal and business experts is highly recommended to ensure a smooth company formation in Oman and successfully complete registration. Here is Gryffin Capitalist to help you through the process. Contact us now and our experts shall readily assist you.
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What our clients say
Very Prompt Service
"Gryffin Capitalist has assisted us with the opening of an offshore bank account without much hassles. I have faced issues with other companies regarding the required documents and process"
Seamless company Incorporation process
"I contacted Gryffin Capitalist to incorporate my company in the British Virgin Islands. The consultants were proactive in explaining the process and getting necessary documents in a single go thereby avoiding any resubmission and saving a lot of time."
Great Service by the team
"The team at Gryffin capitalist was very helpful in my company incorporation in the UAE. After the sales, the operations team was proactive and followed up regularly to get the company registered."